Indian firm Tata Chemicals’ agreement to sell its Haldia phosphates plant to IRC Agrochemicals — part of Singaporebased Indorama — marks the first major acquisition of such a facility by foreign investors. The takeover, following months of negotiations, is significant from a market perspective. The Haldia plant, located on the far northeastern coast of India and the only plant in West Bengal, has a capacity of 660,000 t/yr DAP, making it the sixth-largest of its type in India — the country has an overall capacity of around 7.7mn t, with Haldia representing roughly 9pc of its total.
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